jess122 jess122

21-07-2017
Mathematics

contestada

Suppose you buy a CD for $250 that earns 3% and is compounded quarterly. The CD matures in 5 years. Assume that if funds are withdrawn before the CD matures the early withdrawal fee is 3 months interest. What is the early withdrawal fee on this account?

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Aliwohaish12 Aliwohaish12

21-07-2017

The early withdrawal fee on this account
250×0.03×(1÷4)=1.875

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melodywyen melodywyen

06-05-2020

Answer:

1.88 on Ape.x

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